"The Economist," 13. P. 1915. Article "Financial Agreements and Military Debts of Europe"...

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"The more you gaze into the financial and political future of Europe after the war, the gloomier and darker its problems appear. But all the more reason for independent people possessed of knowledge, penetration, and foresight to think about the political-economic significance of this war. Never before has there been such a collision of forces, destruction on such a scale in such a short time. Never before has it been so difficult or so necessary to determine the scale of disaster, to calculate the costs, to foresee the consequences (of the war) for human society and to take measures against them. Philanthropists express the hope that the conclusion of peace will lead to a great reduction in the armies and armaments of all states, and this will enable peoples to cope with their new military debt and thus avoid bankruptcy. Undoubtedly, the fear of bankruptcy will play some role, otherwise the conclusion of peace could only lead to new preparation for a new series of wars. But those who understand what forces actually govern European diplomacy do not harbor illusions. In prospect — bloody revolutions and fierce struggle between labor and capital, or between the masses and the ruling classes of continental Europe"— (End of article.)

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